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Gas Prices

It is pretty hard nowadays to pass a gas station and not notice the plummeting price. Fuel prices have been falling so persistently that it appears that Americans have rediscovered their taste for gas guzzlers.

This report finds that Keystone XL would reduce gasoline supplies in America by diverting Canadian tar sands crude from the Midwest to the Gulf Coast, blowing apart the tar sands industry's claims that building the Keystone XL pipeline would lower gasoline prices in America.

Earlier today President Obama challenged Congress to either stand with Big Oil, or stand with the American people. A vote on legislation introduced by Senator Robert Menendez (D-NJ) that would have eliminated over $2.4 billion in annual tax deductions to the top 5 oil companies was subsequently defeated a few hours later. Once again Congress...Continue reading 'Senate Fails to Cut Favors to Big Oil, Once Again'.

Two items out today have reinforced what we have known all along about gas prices and domestic drilling. The first provides strong statistical evidence that there is no correlation between domestic drilling in the United States and gas prices. The second shows that gasoline prices in Canada, a net exporter of crude oil, follow the same volatile...Continue reading 'Gas Price Reality Check'.

with Steve Kretzmann Much is being written and said about rising gas prices, Obama’s energy policies in general and the Keystone XL pipeline in particular. While the President’s opponents repeat ad infinitum the “Drill Baby Drill” mantra, it has been interesting to note that much of the mainstream press has been skeptical. And so they...Continue reading 'Rising gas prices, Keystone XL and the real solutions'.

One of the political mantras of those old boys at the American Petroleum is that if the gas price is too high it means we have to drill for more oil. Plain and simple. Its good old fashioned economics: supply and demand. If the price is too high, we must be faced with a physical...Continue reading 'Regulator Acts Against Oil Speculators'.

The showdown on gas prices and subsidy removal will intensify this week in Washington, when senior oil and gas executives are hauled before Congress to explain record profits at a time when consumers are hurting at the pumps. Legislation is being worked on by Max Baucus, the Montana Democrat and chairman of the Senate finance...Continue reading 'Subsidy Battle Hots Up'.

Until Sunday night one of the main talks of the town in Washington was gas prices. Now the talk of the town is Bin Laden’s death. Oh and gas prices. Because the issue of high gas prices is not going away any time soon. A 36 per cent rise in the last year put pays...Continue reading 'As Gas Prices Remain High, US Becomes Net Exporter of Fuel'.

It’s that time of year again. It’s January, snow is on the ground (and no that doesn’t mean that climate change is not happening), it’s freezing outside and … Russia is having an energy dispute with its neighbours. Somethings never change. This time it is Belarus and the spat is about oil rather than gas,...Continue reading 'Its January, must be time for a Russian energy dispute'.

Britain’s embattled Prime Minister Gordon Brown faces a growing call from trade unions for his government to impose a $2 billion windfall tax on energy companies, who have made billions from the high oil price. Whilst all the indications are that this will be ignored, Brown has come up with the novel idea of hosting...Continue reading 'Gaddafi and Chávez Invited to Gordon’s Oil Summit'.